Lee Financial Co Has $261,000 Stock Position in Hess Midstream Partners LP $HESM

Key Points

• Lee Financial Co reduced its holdings in Hess Midstream Partners by 53.7% in Q1, now owning 6,180 shares valued at approximately $261,000.
• Hess Midstream Partners recently announced a quarterly dividend increase to $0.737 per share, reflecting a 7.2% yield, with a payout ratio of 109.26%.
• Analysts have a consensus rating of “Moderate Buy” for Hess Midstream Partners, with an average price target of $45.80, following recent upgrades from Wall Street firms.

Lee Financial Co lessened its holdings in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 53.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,180 shares of the company's stock after selling 7,181 shares during the period. Lee Financial Co's holdings in Hess Midstream Partners were worth $261,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of Hess Midstream Partners in the 1st quarter valued at about $31,000. Farther Finance Advisors LLC boosted its holdings in shares of Hess Midstream Partners by 840.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company's stock worth $45,000 after buying an additional 941 shares in the last quarter. FSC Wealth Advisors LLC acquired a new stake in shares of Hess Midstream Partners during the 1st quarter worth approximately $58,000. IFP Advisors Inc grew its position in shares of Hess Midstream Partners by 20.0% during the 1st quarter. IFP Advisors Inc now owns 3,520 shares of the company's stock worth $149,000 after buying an additional 586 shares during the period. Finally, PFG Investments LLC bought a new stake in shares of Hess Midstream Partners in the 1st quarter valued at $202,000. Institutional investors own 98.97% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Morgan Stanley began coverage on shares of Hess Midstream Partners in a report on Friday, July 25th. They issued an "equal weight" rating and a $48.00 price target for the company. Wall Street Zen raised shares of Hess Midstream Partners from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Wells Fargo & Company boosted their target price on Hess Midstream Partners from $47.00 to $48.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Hess Midstream Partners has a consensus rating of "Moderate Buy" and an average price target of $45.80.

Hess Midstream Partners Price Performance

Shares of NYSE:HESM opened at $41.16 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 7.26. The stock has a market cap of $8.65 billion, a PE ratio of 15.24 and a beta of 0.67. The stock's fifty day simple moving average is $39.65 and its two-hundred day simple moving average is $39.45. Hess Midstream Partners LP has a 1-year low of $33.59 and a 1-year high of $44.14.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.56 by $0.18. The firm had revenue of $414.20 million for the quarter, compared to analysts' expectations of $405.08 million. Hess Midstream Partners had a net margin of 18.52% and a return on equity of 60.37%. The company's quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.59 EPS. As a group, analysts forecast that Hess Midstream Partners LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th were given a dividend of $0.737 per share. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $2.95 annualized dividend and a dividend yield of 7.2%. This is a boost from Hess Midstream Partners's previous quarterly dividend of $0.71. Hess Midstream Partners's payout ratio is 109.26%.

Insider Activity

In other news, COO John A. Gatling sold 62,457 shares of Hess Midstream Partners stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $41.59, for a total transaction of $2,597,586.63. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of Hess Midstream Partners stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $36.86, for a total transaction of $553,729,976.62. The disclosure for this sale can be found here. Insiders sold a total of 15,088,223 shares of company stock valued at $556,454,599 in the last ninety days.

Hess Midstream Partners Company Profile

Hess Midstream LP owns, develops, operates, and acquires midstream assets and provide fee-based services to Hess and third-party customers in the United States. It operates through three segments: Gathering; Processing and Storage; and Terminaling and Export. The Gathering segment owns natural gas gathering and compression systems; crude oil gathering systems; and produced water gathering and disposal facilities.

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